Posted on 08/28/2019 12:45:49 PM PDT by ChicagoConservative27
(CNN)The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 fiscal year. Once again, President Trump has exposed a myth in American politics. That myth? That Republicans are the party of fiscal responsibility.
He is just the latest Republican president to demonstrate this. His drive for corporate tax cuts, which received strong Republican support, has blown a huge hole in the federal ledger. Tea Party Republicans once railed against President Barack Obama's spending habits. As the deficit has grown under Trump, however, they've suddenly changed their tune. Acting Chief of Staff and Office of Management and Budget Director Mick Mulvaney, who was once known as a fiscal hawk, has admitted the Trump administration is "spending a bunch of money on stuff we're not supposed to."
(Excerpt) Read more at cnn.com ...
Its not the tax cuts you moron. We have a spending problem.
That’s on Congress, not on Trump.
under the premise that tax cuts have to be paid for...
Morons.
all of them.
The 0 years had trillion dollar deficits. At worst the current administration is staying at that level. There is no large ballooning increase in the deficit.
The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 fiscal year.
~~~
Wait, why would they need to use a projection of 2020?
Why not use this year and last year’s actual numbers?
Considering all the times his business/real estate endeavors hit bankruptcy before coming back on top again...Considering our country was bankrupt in every sense of the word when he entered office...I would rather measure the deficit in a few years time.
Cut the spending!
It’s also important to take GDP growth into account as debt to GDP ratio is looked at as a very important number.
But then, Japan is at 230 percent and still afloat.
Predicted? Could?
So really, what you are saying, hasn't actually happened & really isn't news, because it may not ever happen.
I have a feeling in Trump's second term, he will start cutting budgets & expenses Big League.
It’s former House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell.
They need to immediately follow the lead of Bill Clinton and cut welfare spending and make people work for their benefits.
Trump the Russian dupe. Trump the White Supremacist. Trump the crazed lunatic. Now it’s Trump the big government spender! I think CNN goes off a list that’s already been prepared and almost weekly now a new narrative appears!
Indeed.
The Congress is chock full of people who think it’s their duty to spend and spend. I call them “Keystone Keynesians” because unlike Keynesians they never see a time to reduce spending but deem bad times as the need to spend more and good times as the opportunity to spend more.
The consequence being that they are no longer pump priming so much as performing habitual economic masturbation in ways that might cause the sex fiend in Dr Sax to blanch in disbelief.
That Trump isn’t himself an actual fiscal conservative doesn’t help.
Well CNN and left were not all that concerned when odunga raised the deficient 9 trillion dollars in 8 years...why start caring now...Hypocrites.
More CNN Fake News. Tax receipts are way, way up after the rate cuts. The problem is Congress has managed to spend even more than than the increase in revenues.
Government spending, including government deficit spending is included in GDP. If GDP is going to be negative, President Trump can deficit spend to bump up GDP.
[That’s on Congress, not on Trump.]
Don’t tell CNN. They’re on a HateTrump roll.
Regardless of the reason the deficit is at a trillion dollars and climbing. And the Republicans are doing nothing about it.
He already got half the USDA to quit by telling them it was either that or they had to move to America to live.
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